Monday is a holiday in the US and also in the UK.
EUR/USD
What ProAct Forex Target Traders See: We are currently sitting at 1.1113. A break down and we are looking for a continued downward move targets the 0.786 Fibo at 1.0965 and the square up at 1.0858. The average daily true range (ATR) for the pair currently is ONLY 60 pips.
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USD/JPY
What ProAct Forex Target Traders See: We are currently at 110.42 trying to break out of a nice big flag. We are looking initially for a continuation to the top at 111.87and a further target at 113. 58. The average daily true range (ATR) for the pair currently is 90 pips.
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GBP/USD
What ProAct Forex Target Traders See: Cable is currently at 1.4612 and in a large range. We had a strong reaction to the Brexit but seems to have calmed down now. A couple of different scenarios: 1: Bullish: a bounce to the range top at 1.4800 area and 2: Bearish: A break down to the bottom support at 1.4400. The average daily true range (ATR) for the pair currently is 116 pips.
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AUD/USD – A great smooth currency for newbies!
What ProAct Forex Target Traders See: Aussie is at 0.7184. We are looking for a bounce to start a 4th wave and then a continuation down to the bottom at 0.7000. The average daily true range (ATR) for the pair currently is 67 pips.
